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FOR IMMEDIATE RELEASE February 24 , 2021 GOLD RESOURCE CORPORATION NEWS NYSE American : GORO GOLD RESOURCE CORPORATION REPORTS NET INCOME OF $ 4.4 MILLION , REVENUE OF $ 90.7 MILLION AND MINE GROSS PROFIT OF $ 12.5 MILLION FROM CONTINUING OPERATIONS FOR THE YEAR - ENDED DECEMBER 31 , 2020 DENVER - February 24 , 2021 - Gold Resource Corporation ( NYSE American : GORO ) ( the “ Company ” , “ We ” , “ Our ” or " GRC " ) produced 20,473 gold ounces , 1,189,366 silver ounces , 1,593 copper tonnes , 7,725 lead tonnes and 19,696 zinc tonnes despite the two - month mandatory government shut - down in 2020 of the Don David Gold Mine in response to the worldwide COVID - 19 pandemic . For the year ended December 31 , 2020 , we reported net income of $ 4.4 million with revenue of $ 90.7 million and mine gross profit of $ 12.5 million from continuing operations . Allen Palmiere , President and CEO , said “ Our Don David Gold Mine located in Oaxaca , Mexico delivered solid production results during a demanding 2020 amid the COVID - 19 global pandemic . While COVID - 19 is expected to remain a challenge in the short to medium term , our team has done an admirable job managing the situation and it is a testament to our operations team and their adaptability and resilience . ” Mr. Palmiere went on to say , “ I recently had the opportunity to visit the Don David Gold Mine and see firsthand the operations including the construction of the dry stack tailings filtration plant and facilities , which will allow for the efficient storage of tailings , and the completed electrification project which connected us to the power grid , allowing us to reduce diesel fuel consumption by 69 % , providing significant cost savings for us while providing access for the first time to electricity to approximately 25,000 homes in the communities in which we operate . In 2020 , we earned the Empresa Socialmente Responsable ( “ ESR ” or “ Socially Responsible Enterprise " ) award for the sixth consecutive year . Accordingly , we are taking a holistic approach to understanding and capitalizing on the foundations laid in the areas of safety , community relations , environmental stewardship , operational excellence and organic growth in order to unlock the value in our highly prospective ground package . The Company finished the year with a strong balance sheet , including $ 25.4 million in cash , which provides us with flexibility as we move to reinvest capital in Mexico to increase the productivity and the life of the operations . " Select Strategic , Operational and Financial Results for 2020 Strategic : In addition to a new and highly accomplished CEO , Mr. Allen Palmiere , we have added three new independent directors , Ms. Lila Manassa Murphy , Mr. Joe Driscoll and Mr. Ron Little , to the Board of Directors . These additions to the Company's leadership add the expertise necessary to focus on unlocking the value of our assets while implementing best in class governance . Successfully spun - off our Nevada Mining Unit to our shareholders . Operational : • • The Don David Gold Mine produced 20,473 gold ounces and 1.19 million silver ounces or a total of 30,508 gold equivalent ounces ; Don David Gold Mine total cash cost and total all - in sustaining cost , both after by - product credits , per precious metal gold equivalent ounce sold were $ 784 and $ 1,3651 , respectively . 1